Has Your Property Been Cited by the Local Housing Authority? We Can Help.

Has your multifamily property been cited by the local housing authority? Are you now receiving threatening letters from the city? Has your property now been accepted into the REAP (Rent Escrow Account Program)? If so, good luck!

The REAP program is where properties ago after owners were not able to timely cure a “Notice to Comply” issued by the housing department. This can be either triggered by a tenant complaint, or a by a routine systematic code enforcement program inspection. If a property owner is sited by the city for a code violation, and the matter is not resolved in a timely fashion, you may end up having your property in the REAP program. Tenants’ will be contacted by the city, and they will be instructed to send a portion of their rent to the city instead of you. You will not be receiving rent from your tenant(s) while your property is in REAP. Your income from the building will immediately cease, but you will still be responsible for all your monthly expenses, mortgages, taxes, utility bills, and obviously the cost of repairing the violations.

In the event, you ever cure the violations on your property, the process of getting your building out of the REAP program is so difficult, many owners usually give up. The monthly fees the city charges are also astronomical. We have bought many properties that were in the REAP program. Huntley Equities will still give you an offer for “top dollar” regardless of your property is in the REAP program. We have our experienced staff and the resources able to handle various matters that many “Mom and Pop” owners simply cannot.